California Governor Gavin Newsom signed a budget bill that includes tax breaks for semiconductor companies. Senate Bill 131 modifies the new employment tax credit to attract semiconductor factories, responding to federal incentives aimed at strengthening the microprocessor supply chain. Don’t leave money on the table. Reach out to Ashmore Consulting to learn about the tax […]
Gov. Andy Beshear urged the owners of Kentucky’s small businesses, which help drive the state’s job growth and innovation, to apply for a tax credit of up to $25,000. Qualifying small businesses should apply now to ensure the best chance of approval in time for this year’s tax filings and receive the Kentucky Small Business […]
Key Development that affected US state and local income/franchise and other business taxes for the third quarter of 2022. Iowa – certifies corporate income tax rate reduction starting in 2023 On March 1, 2022, Iowa Governor Kim Reynolds signed 2022 IA HF 2317, provisions of which provide for the reduction of corporate income tax rates […]
Jul. 7, 2022 California—Corporate, Personal Income Taxes: Tax Credit Changes, Forgiven PPP Loan Conformity, and More Enacted California has enacted budget-implementing legislation that includes corporation franchise and income and personal income tax changes relating to: the Main Street Small Business Tax Credit; the Homelessness Hiring Tax Credit; the California Competes Tax Credit; forgiven Paycheck Protection […]
Arizona Arizona—Corporate, Personal Income Taxes: Motion Picture Production Credit Enacted Jul. 11, 2022 Arizona will allow motion picture production companies a new refundable income tax credit for tax years beginning after December 31, 2022. How do companies qualify for the credit? To qualify for the credit, a motion picture production company must either: use a […]
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